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GIC increases stake in Dexus Australian Logistics Trust
Transactions - JANUARY 8, 2020

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GIC increases stake in Dexus Australian Logistics Trust

by Andrea Zander

GIC has acquired an additional 24 percent interest in Dexus Australian Logistics Trust core portfolio, increasing GIC total investment to 49 percent.

The additional investment is priced at A$366.1 million ($251.05 million).

The joint venture was created in 2018. The joint venture was seeded with a A$1.4 billion ($1.01 billion) high-quality logistics portfolio, comprising mostly core logistics facilities in strong performing precincts with good access to major arterial roads, rails and ports. The assets are located mostly in Sydney and Melbourne (97 percent), Australia’s key metropolitan areas and strongest logistics markets.

GIC has been active in its exposure in logistics. Recently, it acquired a pan-European logistics real estate portfolio known as Maximus from funds managed by affiliates of Apollo Global Ma

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